Suburb Profile Report for Richmond VIC (3121)

Richmond House: Median price $1,300,000, Annual capital growth 6.67%, Number of sales 239, Weekly median advertised rent $650

Richmond Unit: Median price $550,000, Annual capital growth 3.49%, Number of sales 417, Weekly median advertised rent $455

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

Source: CoreLogic

House Report
Unit Report

Richmond has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.84% to date .

While Richmond,3121 ranked number 496th in VIC for increase in median house value (annualised) increase, it is ranked 238th over the last 5 years.

At number 238th of VIC’s most discounted properties, Richmond is in the bottom 40% of the state/territory when listing in order of most discounted to least.

Property investors who have had real estate in Richmond, 3121 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices unmoved in value by 0.00%

A 1.76% growth in median value for property investors in Richmond,3121 puts this suburb at number 309th in terms of best performing suburbs in VIC

Property buyers and investors in Richmond 3121 should be seeing an average reduction in asking price of around -4.93% . This means that Richmond is holding prices well when compared to other suburbs in VIC.

Richmond is 138th on a list of best yielding suburbs for rents in VIC with a 4.30% return

Metrics	HOUSE	UNIT
Median price	$1,300,000	$550,000
Quarterly growth	0.00%	-1.79%
12-month growth	4.84%	0.00%
Average Annual Growth	6.67%	3.49%
Weekly median advertised rent	$650	$455
Number of sales	239	417
Gross rental yield	2.60%	4.30%
Days on market	66.82	55.34

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)

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Demographics

Total population	23814
Median household income ($/weekly)	1697
Median age of persons	33
Median housing loan repayment ($/monthly)	2383
Average household size	2.1

Census	Count	Percent(%)
20-24 years	1977	8.3
25-34 years	7395	31.1
35-44 years	4007	16.8
45-54 years	2555	10.7
55-64 years	2166	9.1
Others	5714	24.0

Age Group

Census	Count	Percent(%)
Not Married	9944	53.1
Registered Married	5728	30.6
Defacto Relationship	3065	16.4

Social Marital Status

Census	Count	Percent(%)
Australia	14307	65.0
Papua New Guinea	728	3.3
United Kingdom	1001	4.5
Viet Nam	1335	6.1
Other	1405	6.4
Others	3233	14.7

Country of Birth

Census	Count	Percent(%)
Buddhism	1859	8.8
Christianity	10411	49.2
Hinduism	239	1.1
Islam	299	1.4
No Religion	8057	38.1
Others	277	1.3

Religious Affiliation

Census	Count	Percent(%)
$1,500-$1,999	1054	11.3
$2,000-$2,499	806	8.7
$2,500-$2,999	1288	13.8
$3,000-$3,499	697	7.5
$4,000 or more	802	8.6
Others	4664	50.1

Gross Household Income (Weekly)

Census	Count	Percent(%)
Employed, worked full-time	10339	52.3
Not in the labour force	4879	24.7
Employed, worked part-time	3202	16.2
Employed, away from work	700	3.5
Unemployed, looking for work	649	3.3

Person Characteristics

Census	Count	Percent(%)
Managers	2328	16.3
Professionals	5626	39.5
Community & personal service workers	1087	7.6
Clerical & administrative workers	1935	13.6
Sales	1128	7.9
Others	2142	15.0

Occupation

Census	Count	Percent(%)
Infants/Primary	863	19.5
Secondary	652	14.7
Technical or Further Educational Institution	540	12.2
University or other Tertiary Institutions	1845	41.6
Other type of educational institution	296	6.7
Others	239	5.4

Type of Educational Institution Attending

Census	Count	Percent(%)
Flat, unit or apartment	8020	37.1
Separate house	7061	32.7
Semi-detached, row or terrace house, townhouse	6405	29.7
House or flat attached to a shop, office	106	0.5
Improvised home, tent, sleepers out	4	0.0
Others	0	0.0